Big Six prepare for earnings season

Big Six prepare for earnings season

Big Six prepare for earnings season Canada's big six banks will report third quarter earnings over the next two weeks and profits are expected to rise due to the strength of the Canadian economy.

Analysts will be watching the impact of the housing market and rising interest rates on the lenders’ profits. The slowdown in home sales growth in Toronto will be a particular concern due to its impact on mortgage portfolios.

The first of the banks to report earnings is RBC Wednesday followed by CIBC Thursday with Scotiabank, BMO, National Bank and TD reporting next week.

Although smaller margins and mortgage volume may be a concern most analysts are expecting credit quality to remain high.

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